This is the third time I've tried to copy and paste this! Hope it's okay I started November.

Do you want to get out of debt? Start living on a budget? Be able to start saving? Then this is the thread for you! Some of us use Dave Ramsey's method but please join us even if you're following someone else/your own plan. All are welcome!

Here's DR's plan:

Pre-Step 1: Get current on your debts and do a budget
0.1 No new borrowing.
0.2 Talk with spouse and get him/her on the same page as you concerning finances.
0.3 Do a written budget
0.4 Temporarily stop all retirement contributions
0.5 Get current on all the basics (Shelter, Food, Utilities, Basic clothing)
0.6 Amputate "toys" (bikes, boats, ATV's etc) to help snowball
0.7 Cut lifestyle (Cut cable, cell, extras, eating out) and/or get a second job to raise $1000 EF.
0.8 Get current on ALL bills

BS1 $1,000 to start an Emergency Fund
1.1 Chop up/freeze CC's (You have an EF now)
1.2 Get Health insurance NOW if in the US
1.3 Get Life insurance NOW if you have considerable debt/your family couldn't make it financially if you died.
1.4 Amputate cars that you can't pay off within 24 months

BS2 Pay off all debt using the Debt Snowball
2.0 Do the debt snowball, paying all your debts from lowest BALANCE to highest.

BS3 Three to six months of expenses in savings
3.1 Start car replacement fund
3.2 Save up 20% for home purchase OR pay down existing mortgage to the point you can drop PMI.
3.3 Start furniture or other non-essential stuff replacement fund

BS4 Invest 15 percent of household income for retirement

BS5 College funding for children

BS6 Pay off home early

BS7 Build wealth and give! Invest in mutual funds and real estate

Here's the link to Dave Ramsey's website: http://www.daveramsey.com or if you want a good DR discussion forum,http://www.llnoe.com is good but hardcore. Gail vax Oxlade's Til Debt do Us Part is great tv show, very motivating. Her website is:http://gailvazoxlade.com/blog Others like Suze Orman or Mary Hunt, really doesn't matter whose method you use, just start the process to getting out of debt

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To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts. momma to two - (ages 18 and 6) 589/2017 items in decluttering challenge (816 items gone last year 2016) Ramsey's BS1 $150

I know it's the 20th of the month and a little late to set goals for October - but this is what I have written down in my planner.

1. Get current on all bills - I just got paid and for the past two weeks I took on extra shifts for a coworker's vacation. So, there should actually be enough money to do this! Of course, the real question is can I KEEP current? - Well, I sort of did this. I got current on all bills but had to use my CC for a house emergency.

2. put $100 into my emergency fund - had to empty this, had $80 in it but due to house emergency as above, it's gone. So, nope.

Goals for November:

1. I am still at DR's pre-step 0.8 - need to stay current on all bills. I learned alot about my budget last month and am making necessary adjustments today for the Nov budget.

2. Try again to add to EF - perhaps $50 might be more realistic

3. Tithe 1% of my income - I completely halted this for Sept/Oct and it just felt wrong. So 1%, not the 10% that everyone recommends - I can't do that yet.

Good Luck to Everyone!

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To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts. momma to two - (ages 18 and 6) 589/2017 items in decluttering challenge (816 items gone last year 2016) Ramsey's BS1 $150

My goal is to save $100 for Christmas, keep DS's birthday simple and cheap, and keep our heads above water for one more month (things are getting pretty near the wire here these days as DH finishes up school).

Keeping on trucking.

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Still chugging along on BS 2, though this month the snowball money is being diverted to the EF to pay it back for preschool. Didn't work it into the budget because we didn't plan on putting DD1 back into the preschool on my campus until next year, but they had an opening and I need extra time to do homework, so we decided to go for it. It'll make it more likely she'll get in next year too being a current student. Anyway, they said they'd work with us on payment, but I decided rather than trying to make the money up elsewhere that we'd pay from EF to get it over with (don't want a "debt" looming over our heads!) and pay back EF with the extra that normally goes to debt. It's the first time we've done it and it feels wrong, but we'll be back to normal next month. Just have to remind myself that we're still taking steps forward, even if they're not as forward as I'd like.

Superhero and mother to Peanut (03/20/09) and Twig (01/20/2012). Fighting for the rights of mothers out there who and much more!

Hello! I'm ready to join in We started doing a modified DR plan in August with the help of mint.com (<- life saver, couldn't do this w/o mint... I have tried). Hopefully I will receive a letter any day now saying I have been accepted into nursing school (nauseous w/anxiety just mentioning it). So we are trying to meet some goals before we both start school full time and live off loans for 2 years (yuck... but I've looked at all our options and it seems best).

Our goals by Jan 1st:

*$1000 Emergency fund

*Pay off credit card - currently at $1,136 until this spring it had been maxed out at around $2200 since 2008 after my husband was in a car accident and couldn't work for 5 months We used it for living expenses when he only got 1 of the 5 month of disability he was supposed to. We have paid at least the full $2000 we actually borrowed in interest and fees.

*Pay off recent medical bill - currently at $363 started at $650

Here's the DR stuff we've done:

Pre-Step 1: Get current on your debts and do a budget
0.1 No new borrowing. - Good on this one until we start school, we have never been in the habit of using consumer credit
0.2 Talk with spouse and get him/her on the same page as you concerning finances. yup
0.3 Do a written budget Done on mint.com, I check it at least every thurs to keep it accurate/us aware of our spending
0.4 Temporarily stop all retirement contributions haha
0.5 Get current on all the basics (Shelter, Food, Utilities, Basic clothing) Doneexcept working on the basic clothing. We are good at not shopping... kind of to a fault. Neither me or my husband have jeans w/o holes.
0.6 Amputate "toys" (bikes, boats, ATV's etc) to help snowball See above
0.7 Cut lifestyle (Cut cable, cell, extras, eating out) and/or get a second job to raise $1000 EF. The mint budget helps keep coffee/eating out (like teriyaki) under control. We are both already working 2 jobs.
0.8 Get current on ALL bills DONE!!!

BS1 $1,000 to start an Emergency Fund We have $250 in a EF, which is super exciting for us!!!
1.1 Chop up/freeze CC's (You have an EF now) Done years ago
1.2 Get Health insurance NOW if in the US Our son has it through the state -figuring out some for us
1.3 Get Life insurance NOW if you have considerable debt/your family couldn't make it financially if you died. hhhhmmmm
1.4 Amputate cars that you can't pay off within 24 months We are car-free until we pay off all non-student debt and can pay in cash.

BS2 Pay off all debt using the Debt Snowball
2.0 Do the debt snowball, paying all your debts from lowest BALANCE to highest. Did some debt payment before our EF Since 2010 we've paid over $7000 in debt, almost all of it is medical debt or interest on the credit card. We have been eligible for food stamps for almost half that time, so that is a huge amount for us.

Combined we have about $20,000 in student loans. They are currently being deferred for DH and income contingent payments for me.

We have about $6000 (I think) in medical debt... I should probably contact the collections agency It's in my DH's name and I generally try to have him take care of those bills, but it hasn't happened and probably needs to.

I'm kind of amazed if you are still reading this... hoping that posting will keep me on track!

So back in October, I was pleased that I had straightened things out with the student loan people - I thought I had gotten my file brought current and my monthly amount lowered by $11. I signed on today to pay as I had agreed to start paying in Nov - the amount was not lowered - and they have down that I should have paid for Oct so now I am "'late" again.

Argh......

Just a cranky rant. I will get back on the phone and try to figure this out! I am making progress or that's what I keep telling myself.................

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To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts. momma to two - (ages 18 and 6) 589/2017 items in decluttering challenge (816 items gone last year 2016) Ramsey's BS1 $150

I do a modified version of DR. I just accomplished one of his steps, getting life insurance! My goals for the end of December:

~pay off 3000 on a credit card (they were paid off before, but I did a kitchen renovation over the past 1.5 years; paid cash for most of it but put some ikea cabinets on the card that I know need to pay off before the 0% runs out).

~max out ira

~more cash savings.

Here's DR's plan and where Im at:

BS1 $1,000 to start an Emergency Fund (done)
1.1 Chop up/freeze CC's (You have an EF now)
1.2 Get Health insurance NOW if in the US (Not gonna happen any time soon 1300+ / mth forget it - my kids have health insurance though)
1.3 Get Life insurance NOW if you have considerable debt/your family couldn't make it financially if you died. Done!
1.4 Amputate cars that you can't pay off within 24 months (N/A, car paid off)

BS2 Pay off all debt using the Debt Snowball
2.0 Do the debt snowball, paying all your debts from lowest BALANCE to highest. (the 3000 CC on 0% interest card)

BS3 Three to six months of expenses in savings (7 months saved; continuing to up this to a year - need 6000 more)
3.1 Start car replacement fund (starting this in Jan)
3.2 Save up 20% for home purchase OR pay down existing mortgage to the point you can drop PMI. (looking into refinancing or buying new house next spring, so putting money away for this)
3.3 Start furniture or other non-essential stuff replacement fund (I call this "cash for spending" starting this this month (for travel, sofa, home maintenance (actually, I have a separate account for this which I already put a bit towards)

BS4 Invest 15 percent of household income for retirement (already do this (10% - 15%), for the past few years, will up it to 30% in january now that the kitchen is done)

BS5 College funding for children (hmmm?, I am more inclined to put any extra money in my own stocks and investments and see ... where we are at)

BS6 Pay off home early

BS7 Build wealth and give! Invest in mutual funds and real estate

Several years ago, maybe 5-7, I owed about 20,000 and had always been working on it, but was in a bit of denial, having a chunk saved thinking I could always cover it, I sold a house, paid off a chunk (down to 5,000) and put 10,000 into savings. Lived in a rental for a few years, bought another house (low $$, but required updates (bathroom, kitchen) with the savings. Cashed in a mutual fund that was losing money,intending to switch it to an ira account but instead paid off the last of the cc. Started an ira savings and ef and savings for the renovations. I did drop my self pay / private health insurance - originally it was 900/mth and increased 200/mth each year. At 1300 / mth and after my 2nd child was born, I down graded to catastrophic for 650/mth. After a year of that and seeing similar increases I decided it wasnt worth it, that I would rather put that into cash savings.
3 years later, bathroom done, kitchen done, landscaping, value of house surely to have increased, i hope. Plus a hefty cash savings and maxed out ira savings (over the past 2 yrs). my wages have also increased but my expenses have not. I keep increasing my savings instead. Also, waiting to see the full effects of obamacare, but i do not see that it will change the cost of hi in my area - which gives health insurance to anyone, regardless of pre-existing conditions, but the last time i got a quote (a year ago?), it was 1300 / mth with a high deductible (for one person) and the catastrophic was eliminated (I was informed about this when I dropped my catastrophic, but still decided to drop it)

Never mind, I clearly missed the edit or didn't read well. Wonder if you can buy insurance from out of state? I think that provision was backed by R's and D's?

Quote:

Originally Posted by SunRise

Hi

I do a modified version of DR. I just accomplished one of his steps, getting life insurance! My goals for the end of December:

Here's DR's plan and where Im at:

1.2 Get Health insurance NOW if in the US (Not gonna happen any time soon 1300+ / mth forget it - my kids have health insurance though)
1.3 Get Life insurance NOW if you have considerable debt/your family couldn't make it financially if you died. Done!

You've made some pretty impressive progress so far!

I would like to gently encourage you to check into high-deductible plans for health insurance if you have any available. I get that it's painful to pay a few hundred dollars each month for the back up of "only" being forced to pay $5-6,000 each year.

One freak accident, or even a simple fall and you could be tens of thousands of dollars in debt without any insurance at all. And you have an emergency fund to be able to make most deductibles.

Also without any insurance at all, it may be hard to get treatment for something that you really need done that isn't deemed life-threatening.

Just a thought, I know we all want the great insurance with "free" doctors visits but you might want to price out the other options out there to protect your family

This is the third time I've tried to copy and paste this! Hope it's okay I started November.

Do you want to get out of debt? Start living on a budget? Be able to start saving? Then this is the thread for you! Some of us use Dave Ramsey's method but please join us even if you're following someone else/your own plan. All are welcome!

Here's DR's plan:

BS1 $1,000 to start an Emergency Fund Done
1.1 Chop up/freeze CC's (You have an EF now) Ha! No way Jose.
1.2 Get Health insurance NOW if in the US Done
1.3 Get Life insurance NOW if you have considerable debt/your family couldn't make it financially if you died. Done
1.4 Amputate cars that you can't pay off within 24 months Done

BS2 Pay off all debt using the Debt Snowball
2.0 Do the debt snowball, paying all your debts from lowest BALANCE to highest.

One current debt, $28,686 at 2.85%

BS3 Three to six months of expenses in savings (not yet)

3.3 Start furniture or other non-essential stuff replacement fund (we are currently fixing up our house bit by bit and saving for it as we go.)

BS4 Invest 15 percent of household income for retirement Done

BS5 College funding for children (not yet)

BS6 Pay off home early (Pending a decision in March--we may pay ahead 5% next year as the interest rate is a full point higher than our BS2 debt and the exchange rate is poised to be quite favorable)

We are definitely modifying the plan as well, and always have really. One thing I did "Dave-style" was wipe out our savings paying down three other debts. This is the lowest we have had liquid in five years and it's not my favorite feeling.

We have $6,000 in cd's maturing in May 2013, and a $35,000 deposit due in February, so I kind of plan to keep savings low until then and use credit cards if something crazy happens in the meantime. Not comfortable with using cc's like that, but if we suddenly need to flee the country that's the plan.

I also disagree with the idea of skipping retirement if you can pay off debt in a reasonable time and contribute. I don't see where Dave gets his retirement numbers, the whole "you can earn 12% in mutual funds" is not backed up by any data I have ever seen.

We recently started using YNAB (you need a budget) and I really like it. I am also still running Quicken and have been for a while so it's a bit much to keep up with, but they both do different things for us.

I would like to gently encourage you to check into high-deductible plans for health insurance if you have any available. I get that it's painful to pay a few hundred dollars each month for the back up of "only" being forced to pay $5-6,000 each year.

One freak accident, or even a simple fall and you could be tens of thousands of dollars in debt without any insurance at all. And you have an emergency fund to be able to make most deductibles.

Also without any insurance at all, it may be hard to get treatment for something that you really need done that isn't deemed life-threatening.

Just a thought, I know we all want the great insurance with "free" doctors visits but you might want to price out the other options out there to protect your family

OH, I think I did edit / expand. Im waiting to see the results of Obama care, while also keeping up on other options (for health insurance). I'm an expat, so I figure if something horrible happens I can return to homeland for medical care, but its not that simple, it takes three months to get back into system. Another factor of be dropping it, was because its not a fair price; someone making 50,000 is not eligible for state subsidized care and cannot afford 1300/mth for private insurance either. I could pay it, at my wages, but then I wouldn't have much to save for retirement.

Pre-Step 1: Get current on your debts and do a budget Done
0.1 No new borrowing. Done
0.2 Talk with spouse and get him/her on the same page as you concerning finances. We are both motivated to find FF
0.3 Do a written budget I'm keeping a notebook as I was slacking with updating Exel regularly
0.4 Temporarily stop all retirement contributions Done
0.5 Get current on all the basics (Shelter, Food, Utilities, Basic clothing) Done
0.6 Amputate "toys" (bikes, boats, ATV's etc) to help snowball Nothing to cut
0.7 Cut lifestyle (Cut cable, cell, extras, eating out) and/or get a second job to raise $1000 EF. Got a 2nd job, stopped eating out
0.8 Get current on ALL bills Done

BS1 $1,000 to start an Emergency Fund Done
1.1 Chop up/freeze CC's (You have an EF now) Stopped using
1.2 Get Health insurance NOW if in the US Have it
1.3 Get Life insurance NOW if you have considerable debt/your family couldn't make it financially if you died. I'm looking into Life for me. DH has it through work
1.4 Amputate cars that you can't pay off within 24 months Will be paid off

BS2 Pay off all debt using the Debt Snowball
2.0 Do the debt snowball, paying all your debts from lowest BALANCE to highest. This is where we are currently...got $3800 to go

BS3 Three to six months of expenses in savings
3.1 Start car replacement fund
3.2 Save up 20% for home purchase OR pay down existing mortgage to the point you can drop PMI.
3.3 Start furniture or other non-essential stuff replacement fund

BS4 Invest 15 percent of household income for retirement

BS5 College funding for children

BS6 Pay off home early

BS7 Build wealth and give! Invest in mutual funds and real estate

Giving Love serves as a wonderful reminder that we already have an abundance of Love within, "it is in giving that we receive."

Ok, cookiepie, you are really close with only $3800 of debt to pay off.

I thought I had subscribed to this months thread, but I guess I hadn't.

My dear brother had a job interview today to work at a school doing cooking - maybe the breakfast program which as a 5:45 a.m. start time (about the same time DH has to go to work). :) I hope he gets the job. Because it is with kids he has to pay a $60 background check fee and get his fingers printed. Having him on a schedule with work and school will make my DH happier than having my DB sitting at home all day. Hopefully my DB will know in a couple of days if he is hired.

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Pre-Step 1: Get current on your debts and do a budget
0.1 No new borrowing - doing this wrong, went and got car payment, then swapped and got a new car payment (even trade, newer same model car), and contemplating swapping again next summer for another new car. They took cruise out of my manual car and I miss it for long drives. I could pay cash, but i'm trying to rebuild credit and carrying a car note is part of that plan. I just opened and got approved for a secured CC for the same reason. Going to buy some things and pay same day to rebuild credit for awhile.
0.2 Talk with spouse and get him/her on the same page as you concerning finances. - Kicked him to curb. Problem solved.
0.3 Do a written budget - haven't done that since stopping all my travel. I'm just starting to get better about paying bills on TIME vs 3m at a time. Oops.
0.4 Temporarily stop all retirement contributions - nope, 15K in 401k at old job, contribution matching at new job (only been here 6m)
0.5 Get current on all the basics (Shelter, Food, Utilities, Basic clothing) - just finished going through clothes for kids and we are pretty much set in clothes/shoes/et for awhile.
0.6 Amputate "toys" (bikes, boats, ATV's etc) to help snowball - been considering buying a toy but keep waffling. Really want a stella scooter.
0.7 Cut lifestyle (Cut cable, cell, extras, eating out) and/or get a second job to raise $1000 EF. - I have pretty basic stuff now. we have tv and internet (i'm computer nerd and need inet for job), and DVR. no phone or cell (work provides), and don't eat out much because kids stress me out when eating out. easier to eat at home and relax. plus I can't abide paying 3 bucks for a drink. I used to be able to take the three of us out to say olive garden tho, and we'd all eat and incl tip was 15 bucks. Same with ihop another favorite. I have free kids meals coupons for chilis and i'm promising the kids we'll go soon. incl chips and salsa (I love them, normally won't do an app) a drink for me, and dinner for me the bill for all of us should be 15ish.
0.8 Get current on ALL bills - more or less. i'm really bad about checking mail and paying bills on time. doh.

BS1 $1,000 to start an Emergency Fund
1.1 Chop up/freeze CC's (You have an EF now) - going from no CC for last 5yrs to having one again
1.2 Get Health insurance NOW if in the US - ex is supposed to cover kids but adding them to my dental this week, I have full med and dental through work but not vision because I found what they covered for ME wasn't helpful and I won't do the paperwork and submit claims. my glasses end up running 300+ a pair generally. my last set cost me like 400 for two tho. cheapest i've had!

been thinking about lasik for awhile however, it would just be nice to see my alarm clock or goto pool and see kids w/o glasses. my vision is REALLY bad. they didn't even make contacts in my script until about 10yrs ago, and last I asked only one brand and they were yearly and crazy expensive.
1.3 Get Life insurance NOW if you have considerable debt/your family couldn't make it financially if you died. - had it for free, declined the extended at new job since it's expensive.
1.4 Amputate cars that you can't pay off within 24 months - LOL....keep adding them, but I could pay them off or pay in cash if I needed to.

BS2 Pay off all debt using the Debt Snowball -
2.0 Do the debt snowball, paying all your debts from lowest BALANCE to highest. Actually, you should pay the debts with highest interest rate first, vs largest balance. Less interest $$ going up in smoke.

Other than car and house I have no debt, and I plan on carrying car for awhile to rebuild credit so I can eventually buy a new house of my own. Same with applying for CC.....don't want it or need it, but trying to rebuild credit so I can eventually get mortgage when I am ready to move.

BS3 Three to six months of expenses in savings - I have roughly 1+ years of expenses in savings, I did math and with potential unemployment and child support payments I could probably live on current savings for 3ish years. I should have my entire salary saved by 1/2014 (more than double my expenses)
3.1 Start car replacement fund - carrying note again just to rebuild credit. I am not sure if I should do a big down payment when I buy new car tho, because i'll want to keep payments....

after this however i'll probably keep car for 10+ years and put car payment $$ into savings once paid off so I can pay cash for my next car after that. Bugs me carrying note, but it's all for the sake of possible new home.
3.2 Save up 20% for home purchase OR pay down existing mortgage to the point you can drop PMI. - not paying down current as i'm 50/50 with ex, eventho we lived there jointly for 3yrs and i've been there alone for 5. house is upsidedown and ex wants me to pay HIM 20K. fat chance! I didn't even like the house, it was just the only one ex would consider after looking at over 150 homes. I'm hoping to fix credit enough to get loan for a new house and rent the joint home. Mortgage is 800 (ish, i don't have prop tax escrow, but I estimated like I did) and rental for a house like mine should bring in 1200-1600. the houses I LIKE don't sell for squat around here because everyone wants open concept brand new homes. I like old houses. I should be able to get home I LOVE for 100-120 depending on market, making new payment lower than existing. = profit! lol. Also why i'm trying to grow savings ASAP. I want to make sure I have a year of expenses (30-40) plus 20% down (20-30k) plus enough to cover intial repairs for both homes to make them livable/rentable (another 20 i'm thinking) plus atleast 3 mths mortgage saved (5k) meaning i'll need 90+ which i think will be doable by 1/2015 give or take. So I have about 3 years to fix my credit up like spanky new!

3.3 Start furniture or other non-essential stuff replacement fund - I don't have a FUND, but I've been allotting 3-4 larger purchases a year. this year was dyson, freezer, new pots, and lovesaq beanbag thingy. I've been able to do this without dipping into savings really. I need to find out a way to connect another acct to my current bank acct, and auto xfer over like 100 a mth towards "misc purchases" type thing perhaps.

BS4 Invest 15 percent of household income for retirement - i'm saving about 50% of my takehome right now, and investing to matching # (6% i believe). in a few years i'll probably consider rolling into a roth IRA, but right now my fear is something bad happening and not being able to get to my savings since i've had a hard life and no cushion. I'm enjoying being able to breathe and be less scared of losing job all the time.

BS5 College funding for children - yea, nope. I saw way too many kids get free rides and learn to drink heavily on parents dollar. and I'm the exception to every rule having no degree and pulling down almost 6 figs after busting my butt working 3 jobs and 120hr work weeks to get to my current skill level. I will be encouraging my kids to follow in my family's long long long military history when the are older, or figure out how to fund their own way. I'll give them money to help a bit i'm sure, but I firmly believe that free rides in life end up making you feel like you deserve it. So no cars when they turn 16 (they will be paying gas and insurance money and borrowing car i own) and no free rides to college here.

BS6 Pay off home early - I plan to get new house someday down the road and then work on rebuilding savings acct, starting some retirement $$....and i'd like to move out of texas as soon as I'm able but scared kids will stay behind. So if I am able to I won't be paying off new texas home early....i'll be buying my (last!) home and paying THAT off early. but it's on the back burner for sure.

So yeah, i'm going against ALL of this, but in fairness I payed off debt and put 30K into my divorce coughing up 3K every few months when I was making about 40/yr. how I did it, i'll never know. Turned off everything, ate ramen or pbj nightly....now i'm living on roughly 40-50k a year and i feel quite wealthy!

I pretty much did all of those things above, but had to do a lot more juggling to keep coming up with 3K when my takehome was less than 3K every few months. always several months behind on bills...etc. But I did it :)

I'm just hoping that by the time 2015/2016 rolls around i'll have over 100 in bank, have repaired my credit to the point where I can buy a new home and rent (or sell, if i can break even) the existing home and get ON with my life. I really want to nest and do home improvements but I hate the house and I don't want to benefit my ex in that manner either. Plus i feel like i'm just squatting.

Cookie, that is a great video. I need to get my husband and brother to watch that. I was on the roll of saving for a new car while driving a paid off car for a few more years than "expected". My car is a 1999 Ford Taurus. I want to get my DH on the ball with this to pay off his car and save for an updated car for me.

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This is the third time I've tried to copy and paste this! Hope it's okay I started November.

Do you want to get out of debt? Start living on a budget? Be able to start saving? Then this is the thread for you! Some of us use Dave Ramsey's method but please join us even if you're following someone else/your own plan. All are welcome!

Here's DR's plan:

Pre-Step 1: Get current on your debts and do a budget
0.1 No new borrowing.
0.2 Talk with spouse and get him/her on the same page as you concerning finances.
0.3 Do a written budget
0.4 Temporarily stop all retirement contributions
0.5 Get current on all the basics (Shelter, Food, Utilities, Basic clothing)
0.6 Amputate "toys" (bikes, boats, ATV's etc) to help snowball
0.7 Cut lifestyle (Cut cable, cell, extras, eating out) and/or get a second job to raise $1000 EF.
0.8 Get current on ALL bills

Progress report on my getting out of debt: all debts are now paid off or in dispute, if the disputed debts do not get cancelled by the end of the month I will start paying them off next month. I am current on all current bills for now.

BS1 $1,000 to start an Emergency Fund
1.1 Chop up/freeze CC's (You have an EF now)
1.2 Get Health insurance NOW if in the US
1.3 Get Life insurance NOW if you have considerable debt/your family couldn't make it financially if you died.
1.4 Amputate cars that you can't pay off within 24 months

I still don't have life insurance but am hoping to get some come January or March depending on when I can, lol.

BS2 Pay off all debt using the Debt Snowball
2.0 Do the debt snowball, paying all your debts from lowest BALANCE to highest.

The snowball has built up momentum and is an avalanche now!

BS3 Three to six months of expenses in savings
3.1 Start car replacement fund
3.2 Save up 20% for home purchase OR pay down existing mortgage to the point you can drop PMI.
3.3 Start furniture or other non-essential stuff replacement fund

I have a EF of three hundred dollars and am hoping it will be there after the holiday season, lol. I am really hoping to find a way to save up for a downpayment but it is not looking too optimistic right now. Any suggestions?

BS4 Invest 15 percent of household income for retirement

Um yeah someday:)

BS5 College funding for children

Is there any way to start a college fund if you're low income? I just went to community college and what not but I wold love for my kids to end up at a university.

BS6 Pay off home early

When I find a home to buy I am hoping to find a fixer upper so that I can pay it off quickly and then invest in repairs an customizing it to my liking.

BS7 Build wealth and give! Invest in mutual funds and real estate

Here's the link to Dave Ramsey's website: http://www.daveramsey.com or if you want a good DR discussion forum,http://www.llnoe.com is good but hardcore. Gail vax Oxlade's Til Debt do Us Part is great tv show, very motivating. Her website is:http://gailvazoxlade.com/blog Others like Suze Orman or Mary Hunt, really doesn't matter whose method you use, just start the process to getting out of debt

Okay any suggestions on how to actually start building wealth when my budget just goes a bout one hundred a month beyond covering our expenses?

Hi everyone. I would like to join in with you! I have tried quite a few times but I have always given up etc. I just went through and added up my budget and debts. I am a little surprised. I knew that we had alot of expenses, but I didn't know my debts were quite that high! I can barely pay the monthly bills and commitments so I always just threw the ones that I knew I couldn't pay in a stack without even opening them, I know real bright! :( Well I got the courage up to go through all of them, open them, put the amounts in a spreadsheet, and make a bill binder.. Yikes!! almost $20,000! Most of which are very past due or in collections. Now to make a game plan and get started! It will be really tough at first. I am in school full time and I will not put my school aside at this point. That has to be my priority! That will be the only plausible way to get out of this mess and stay out of it in the long run! I bring in over $1700 a month in income and can add a few hundred fairly easily, but that just gets me through the month. I just put a few things up for sale, so hopefully that will bring in a little extra.

"If we are to heal the planet, we must begin by healing birthing."~Agnes Sallet Von Tannenberg

lactivistmama, the first step is always recognizing that you have a problem and taking action to fix it! Sounds like you are on the right track with your past due bills. Making a commitment to pay them something, even if it isn't the minimum payment, can be a great relief. See what you can work out with those you owe money to.

Crafty To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts. Geeky To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts. lady (37, hypothyroid) married 7/2010 love of my life To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts. (42, azoospermia). I believe in MIRACLES! Twin boys To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts. born 12/21/13 at 40 weeks 2 days! 3/52 crafts in 2014 Ramsey's BS1: Done! 2/17/12 To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts. BS 2 goal: 6/7/17 To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts. no sperm initial DX 3/23/12 BFP 4/7/13!

I just picked up a copy of Dave Ramseys book at a thrift store for $1 today. I guess I failed at the no spend challenge but hopefully it will help me learn more about how to build my credit up then just reading online has.

MamaYogiBear, I think that you will find reading DR's book inspiring. Each baby step that my husband and I have taken toward financial freedom has been precious. We have been budgeting for almost a year now and snowballing our debts since Jan. I love to look at our spreadsheet and see how much we have paid off in debt since then. It inspires me to keep going, even when we have a set back like needing new tires on my car but this time we were able to cover that expense with our emergency fund, rather than a credit card.

Crafty To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts. Geeky To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts. lady (37, hypothyroid) married 7/2010 love of my life To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts. (42, azoospermia). I believe in MIRACLES! Twin boys To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts. born 12/21/13 at 40 weeks 2 days! 3/52 crafts in 2014 Ramsey's BS1: Done! 2/17/12 To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts. BS 2 goal: 6/7/17 To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts. no sperm initial DX 3/23/12 BFP 4/7/13!

MamaYogiBear, I think that you will find reading DR's book inspiring. Each baby step that my husband and I have taken toward financial freedom has been precious. We have been budgeting for almost a year now and snowballing our debts since Jan. I love to look at our spreadsheet and see how much we have paid off in debt since then. It inspires me to keep going, even when we have a set back like needing new tires on my car but this time we were able to cover that expense with our emergency fund, rather than a credit card.

I'm thankful that this thread is so active. I have made four offers on houses since I last posted an update. Two of them were not accepted and I should hear about the other two by morning. We never did shift focus across the Bay. Still holding that as a last resort. I'm really tired of house hunting. I can't wait to be on the other side, moving into my house. Won't take much to move in as we lost almost all of our belongings to rodents in our storage last year.

Exciting trekkingirl, hopefully one of the offers is accepted and you can get moved into a house soon.

I am excited. My DH finally got his reimbursement for his educational expenses. Granted they don't cover the lab fees for his tool and die associates degree he is working, and lab fees are a big part of it, but they covered 90% of the rest of his tuition. Yeah! We are going to pay off a couple of our little credit card debts and save the rest for our IVF procedure that will be next summer. We are about half way to our needed amount of money for the IVF procedure and I think that our income tax refund will cover that. I was beginning to lose hope that the reimbursement would ever come since it has been so long since he submitted the paperwork for it.

Crafty To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts. Geeky To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts. lady (37, hypothyroid) married 7/2010 love of my life To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts. (42, azoospermia). I believe in MIRACLES! Twin boys To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts. born 12/21/13 at 40 weeks 2 days! 3/52 crafts in 2014 Ramsey's BS1: Done! 2/17/12 To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts. BS 2 goal: 6/7/17 To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts. no sperm initial DX 3/23/12 BFP 4/7/13!

trekkingirl it is a frustrating process, isn't it? Soon it will be over and you will be moving in!

Lilac I'm glad to hear that DH got his educational reimbursement! How exciting that your IVF treatment is getting closer and will be fully funded by that time!

I'm awaiting my paycheck for working tons of extra shifts in the last 2 weeks! I can't wait to see what it has amounted to! Also I will hopefully be getting my first paycheck from my new job in the next week or 2!

Giving Love serves as a wonderful reminder that we already have an abundance of Love within, "it is in giving that we receive."

mamayogibear - I hope you are liking Total Money Makeover. Of the books I've read of his - that one is my favorite.

This has been a rough month for me so far trying to stick to the budget. We had another house emergency - water pump for the well. Monday night we lost all water to the house - fixed by Tuesday afternoon, so that was good. I took $250 that I had set aside for another bill due at the end of the month and gave it to the repair company.

So I was able to pay cash but now I have no idea how I am going to pay that bill due November 30th - I feel like I have just prolonged the crisis and created anxiety for myself as I try to figure out a solution.

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To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts. momma to two - (ages 18 and 6) 589/2017 items in decluttering challenge (816 items gone last year 2016) Ramsey's BS1 $150

I feel like everything we've been working on has been thrown out the window this month. I know things could be so much worse, but I'm frustrated and need to vent. So please forgive me.

I decided to start DD1 in preschool on campus again, which has been great. I still think it was a great decision. It's expensive though and we weren't planning on starting her again so soon, so it was a financial burden. We decided to divert this month's snowball money towards it, which was the first time we've ever done it and I didn't plan on doing it ever again. I then decided that I would pay the preschool with the emergency fund and then pay back the emergency fund with the money from the snowball after the 20th. I figured we'd be fine until the money comes on the 20th, but of course, here comes Murphy's Law.

As a compromise for my husband, we decided to do just $500 towards the emergency fund. Paying $228 out of that to the preschool (and the fact that we owed it a little bit from a past emergency that we were paying back) means we have less than $250 in it. Of course, our car breaks down. I have $50 in the car repair fund, from the fact that money has been moved out of it a few times and we just registered a car last month. So that means that we don't actually have enough for the car repair. A repair that the Toyota dealership said is dangerous and therefore we should just leave the car there in the parking lot until the part comes in (it's leaking fuel). This sucks! I am so mad!

Yesterday though, I was being super grumpy when my husband and I started talking about it. He told me that I need to stop stressing about it and we made a plan. It's not ideal, but it's what is going to have to work. The car will go on the credit card and we will pay it off after my husband gets paid on the 20th. The next two months, our snowball will go to the emergency fund (which, my husband reminded me, is priority over snowball according to DR). This will get us back up to $500. Then afterwards, we're going to put $100 of the snowball to the emergency fund until we get up to the recommended $1000. It sucks. It wasn't in my original plan, but it'll work. We'll be fine.

Alright, I'm done venting. Sorry about that!

Superhero and mother to Peanut (03/20/09) and Twig (01/20/2012). Fighting for the rights of mothers out there who and much more!